HomeMy WebLinkAbout2016Annual Report.pdfANNUAL REPOR T
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ADDRESS
TO THE
IDAHO PUBLIC
UTILITIES COMMISSION
FOR THE
YEAR ENDED 2016
ANNUAL REPORT OF SMALL TELEPHONE COMPANIES TO
THE IDAHO PUBLIC UTILITIES COMMISSION
FOR THE YEAR ENDING DEGEMBER 31, 2016
COMPANY INFORMATION
Exact name of utility:Cambridge Telephone Company
Address of principal office:
Telephone Number Area
P.O. Box 69, Cambridge, lD 836'10
Code ( 208 ) 257-3314 Emailaddress:
Cities or towns served: Cambridge, Council, lndian Valley, Cuprum, Lowman
Name and tite of officer having custody of the general corporate books of account:
Richard Wiooins. General Manaoer/President
Address of office wfiere corporate books are kept and phone number:
P.O. Box 88. 130 Suoerior Street. Cambridoe. lD 8361 0, (208) 257-3314
Organized under the laws of the State of:ldaho
Date of organization 1966
Form of organization (proprietorship, association, corporation)
lf a Subchapter S Corporation, please speciff:N/A
Name and address of controlling company, if N/A
Corporation
Names of affiliated companies. Give address and desoiption of business: CTC Constiuction, lnc.,
P.O. Box 88, Cambridge, lD 8361O-Constuction Services;CTC Telecom, lnc., P.O. Box 69, Cambridge, !D
8361 0-Telecommunications. lnternet and Wireless
OFFICERS
Report below the tite, name and office address of eadr general officer of the utility at the end of the
year. lf there were any changes during the year, show the name, tifle, and address of the previous
offcer and the date of change.
Title
President
Name
Richard Wiggins
Address
P.O. Box 88, Cambridge, lD 83610
Mce President KermitWiggins P.O. Box 88, Cambridge, lD 83610
Secretary lffstie Kanady P.O. Box 353, Cambridge, lD 83610
Treasurer Joana Wiggins P.O. Box 88, Cambridge, lD 83610
Rev 3/02 Page 1
These financial statements have not been subjected to an audit, review or compilation engagement, and no
assurance is provided for them.
DIRECTORS
List the name of each person vufto was a member of the Board of Directors at any given time during the
year: (Fees related to meetings only.)
Name
and Address
Term Erpired
or Current Tem
Wll Expire
Meetings Attended
This year
Fees Paid
During Year
KermitWiggins lndefinite 1 15,000
PrQ. EqI88, Cambridge,lD 83610
lndefiniteRichard Wiggins 1
P.rQ. Box 88, Cambridge,
Joana
tD 83610
lndefinite 15,000
P.O. Box 88, Cambridge,
Karen Wiggins
lD 83610
lndefinite
P.O. Box 88, Cambridge ,tL
lndefniteKristie Kanady 11,000
I.O. Box 88, Cambridge,tD 83610
Name of Chairman of the Board: KermitWiggins
Name of Secretary (or Clerk) of Board:Kristie Kanady
Number of Meetings of the Board during the year:1
MANAGERS
List the name of each person wfto performed management duties for the Company during the year, and
the total wages and bonuses paid to those persons: (Do not include Director fees in these amounts.)
Narne Title Wages and Bonuses Paid
Richard Wiggins President 150,000
Kristie Kanady Secretary/Treasurer 60,430
Jerry Piper Assistant Manager 89,570
Rev 3/02 Page2
These financial statements have not been subjected to an audit, review or compilation engagement, and no
assurance is provided for them.
NOTES TO THE FINANCIAL STATEMENTS
Please provide important information such as changes in accounting or depreciation practices,
extensions or additions to the system; disposal of any substantial portion of the property of the utility;
reorganization, mergers, or consolidations with other companies; leases executed; other contrac6
or agreements entered into; changes made in articles of incorporation or amendments, the
occurrence of contingency losses or gains.
1ln1 ss8 cTc Telecom.I nc.(CTC}a subsidiarv of Cambridoe Teleohone Company.
was incoroorated.with an initial investment of 100,000. CTC operates as a Competitive Local
Excha noe Carrier in the state of ldaho. Additional capital investments of $'1,900,000 have been made
through December 31, 2016.
2 Cambridoe Teleohone Comoanv (Cambridoe)is a member of Svrinqa Networks. LLC. an ldaho
Limited Liabilitv Comoanv. Cambridoe's investment in borrower as of December 31, 201 6 was
52.7 28.346 ( eouitv method investment).
3 As of December 31.2016. the Companv has longrterm debt to Rural Utilities Service (RUS) of
S2.891.783. These notes will be repaid in 2019. Total advances on all RUS notes were $12,069,304
at December 31 2016 and no funds remain unadvanced.
4 As a result ofchanoes in accountino standards for soodr,vill, Cambridoe elected to amortize their
remainino ooodwill beoinnino in2014. This resulted in amortization expense of $169,166 in 2016.
The accounting change is to be applied prospectively, resulting in no changes to prior year statements.
5 As of December 31,2016,InCom Telecom LLC is no longer a subsidiary of the Company. lnCom
Telecom LLC's assets have been consolidated underwholly-owned subdidiary CTC Telecom, lnc.
Rev 3102 Page 3
These financial statements have not been subjected to an audit, review or compilation engagement, and no assurance is
provided for them.
BAI.ANCE SHEETAssets and Otrer Debits
Balance
Beginning
of YearTitle of Account
Current Assets1120 Cash and Equivalents1130 Cash1140 SpecialCashDeposits1150 Working Cash Advances1160 Temporarylnvestments1180 TelecommunicationsAccts. Receivable1181 Accts. Rec. Allow. -Telecommunications1190 OtherAccountsReceivable1191 Accounts Receivable Allow. - Other1200 Notes Receivable1201 Notes Receivable Allowance1210 lnterest & Dividends Receivable120 MaterialandSupplies1280 Prepayments1290 Prepaid Rents1300 Prepaid Taxes1310 Prepaid lnsurance1320 Prepaid Directory Expenses1330 Other Prepayments1350 Other Current Assets
Noncurrent Assets1401 lnvestment in Affiliated Companies1402 lnvestment in Nbnaffiliated Companies1406 Nonregulatedlnvestments1407 Unamortized Debt lssuance Expense1408 Sinking Funds1410 Other Noncurrent Assets1438 Deferred Maintenance & Retirements'1439 Deferred Charges1500 Other Jurisdiction Assets - Net
Property, Plant and Equipment2001 Telecommunications Plants in Service2OO2 Prop. Held for Future Telecom. Use2003 Telecom. Plant under Constr. - Short Term2004 Telecom. Plant under Constr. - Long Term2005 Telecom. Plant Adjustment2006 Nonoperating Plant2007 Goochrvill
Depreciation and Amortization Accounts3100 AccumulatedDepreciated3200 Accum. Depre. - Held for Future Use3300 Accumulated Depreciation - Nonoperating3400 Accumulated Amortization - Tangible3410 Accum. Amort. - Capital2ed Leases3420 Accum. Amort. - Leasehold lmprovements3500 Accumulated Amortization - lntangible3600 Accumulated Amort2ation - Other
TOTAL ASSETS
Rev 3/02
Balance
at End
ofYear
lncrease
(Decrease)
or
-67TT -7gV7T
.'.....-p00- --r'0r -fl'36F$)',
241,914 284,958 2,9U
576,69X
-24V8F
152,213)
35,577 26,385 (9,192)
-Fvr
----,4T-
-4AjJ,r
-,zusf38,13724,311
1,274,099 1,195,999 (78,100)
- Tr r --perssr
-rcbr23201,EEO (44O)
56,EgE 31,429 (25,1169)
4to 1,470
20,00/.,325 20,190,107 185,742
1,353,326 1 1E4 160 (169,166)
I 15,925,%2 920,118
11,845,731 10,895,452 (e50,27e)
Page 4
These financial statements have not been subjected to an audit, review or compilation engagement, and no
assurance is provided for them.
BAI.ANCE SHEET
Liabilities & Stockholders' Equity
Title of Account
4010
4020
4030
4040
4050
4060
1070
4080
41 00
41 10
4120
41 30
Current Liabilities
Accounts Payable
Notes Payable
Advance Billings and Payments
Customer Deposits
Cunent Mafurities - Long -Term Debt
Gunent Maturities - Gapital leases
lncome Taxes - Accrued
Otrer Taxes - Accrued
Net Cunent Defer. Oper. lncome Taxes
Net Cunent Defer. Nonoper. lncome Taxes
Other Accrued Liabilities
Offrer Cunent Liabilities
Long-Term Debt
Funded Debt
Premium on Long-Term Debt
Discount on Long-Term Debt
Reacquired Debt
Obligations Under Capital Leases
Advances ftom Affiliated Gompanies
Otrer Long-Term Debt
Odrer Liabilities & Deferred Gredits
Oft er LongrTerm Liabilities
Unamort. Oper. lnvest. Tax Credits - Net
Unamort. Nonoper. lnvest. Tax Credits - Net
Net Noncunent Defer. Oper. lncome Taxes
Net Noncur. Defer. Nonoper. lncome Taxes
Other Defened Gredits
Oher Juris. Liab. & Def. Gredits - Net
StockhoHes' Equltyr
CapitalStock
Additional PaidJn Capital
Treasury Stock
Ofter Capital
Retained Earnings
228,810 (88,546)228,055 101,326119,163 23,8995,390 (50)
1,226,300 26.400
14,233
(71,103)
Balance
Beginning
of Year
317,356
Balance
at End
of Year
lncrease
or
(Decrease)
281,401
18,151
(52,225)
4210
4224
4230
4240
4250
4260
4270
153,285 165,146 11,861
1,737,041 (1,193.392)
-
848,574 779,998 (68,576)
(37,212)(117,664)(80,452)(118,688) (47,803) 70,885192,299 208,140 15,841
30,000 30,000
(97,51 1)(97,511)
5,952,535 6,487,257 534 722
4310
4320
4330
4340
4350
4360
4370
4510
4520
4530
4540
4550
TOTAL LIAB. & OTHER CREDITS 11,845,731 10,895,452 (950,279)
Rev 3/02 Page 5
These financial statements have not been subjected to an audit, review or compilation engagement, and no
assurance is provided for them.
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INVESTMENTS
Report below the investments in Accounts '1401, 1402 and 1406. ldentiff each investment as to the
account in which included. Minor amounts in Account 1406 may be grouped by classes.
Descriotion
CTC Telecom, Inc.
Date Acquired
1998
Book Cost of
lnvestments
Disposed of
This vear
Book Cost of
lnvestments
l'leld at
End of Year
1,195,999
Cash value life insurance 175,393
Coins 20,397
Land Various 23.624
Syringa Networks, LLC 2000-2008 2.728,346
NRTC 2003-2016 36,895
Totals 4 180 654
RECEIVABLES
Itemize amounts show in Accounts 1180, 1190 and 1200. For notes receivable list each note separately and
include the maturity date and interest rate. Minor amounts in Account 1210 may be combined.
Name of Companv
Due from customers
Amount at End of YearNotes AccountsReceivable Receivable
284,958
lnterexchanoe cariers 151 710
CTC Telecom lnc.328,802
Other 43 968
R. & B. Crocket, 8.0%, due 2018 26,385
lnterest Receivable 2 041
Totals 28,426 809,438
Rev 3/02 Page 10
These financial statements have not been subjected to an audit, review or compilation engagement, and no
assurance is provided for them.
NOTES PAYABLE
For Notes Payable, list each note separately and include the maturity date and interest rate.
lnterest
Name ol Crcdllor Date of Note Rate Due Date Face Amount
Zons Bank - Line of Credit
Zons Bank - LOC Available
6@,@0
(371,94s)
Totals
ACCOUNTS PAYABLE
Report below all Accounts Payable amounting to more than $100.C[)
Name of Crcdltor
NECA
228,o,5
Arlount
77,nO
CTC Construction 85,388
Use & Sales Tax 1,918
USF 29
Adams County 91 1 2,172
Bankcard Center 't3,421
Bob Armitage 468
Robert Williams 479
Cambridge Lumber Company 148
Commercial Tire 2,135
Computer Technolooy Inc.7,fi1
Farmers Supply Coop 1,563
B&W Fuels lnc.336
Hardin Sanitation 183
ldaho Dept. of Commerce 1.ffi7
ldaho Power 5,314
Kristie Kanady 1,015
Les Schwab Tire Center 1 359
Moss Adams 6,050
National Cable TV Coop 4,631
Universal Service Adminidration Company 9,868
Fed Excise 2.919
other Miscellaneous 2,370
Ford Credit @6
Totals 28.810
Rev3/02 Page 11
These financial statements have not been subjected to an audit, review or compilation engagement, and no assuranc€ is provided
for them.
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GAPITAL STOGK
Report below the particulars called for conceming common and prefened stock at end of year,
designating separate series of any general class. Show totals separately for common and
preferred.
For each class of prefened stock, show the dividend rate and whether dividends are cumulative or
noncumulative.
Show details in a footrote of capital stock sold during the year. lnclude number of shares,
consideration received, premium or discount, and expenses incuned.
Glass & Serbs of Stock
Common stock
Number
of Shares
Authorized
30,000
ParValue
per Share
$ 1.00
Outstanding per
Sheet
Shares
30,000
Amount
30,000
Rev 3/02 Page 13
These financial statements have not been subjected to an audit, review or compilation engagement, and no
assurance is provided for them.
Item
INCOME & RETAINED EARNINGS STATEMENT
Total Company ldaho Only
TotalOperating lncome (ftom page 15)
TotalOperating Expenses (ftom page 17)
7100 Other Operating lncome and Btpense
7210 Operating lnvestment Tax Credits-Net
7220 Operating Federal lncome Taxes
7230 Operating State and Local lncome Taxes
7240 Operating Other Taxes
7250 Provision for Deferred Operating lncome Taxes-Net
7200 Operating Taxes (Total)
7310 Dividend lncome
7320 lnterest lncome
7330 lncome fiom Sinking and Other Funds
7340 Allowance for Funds Used During Constuction
7350 Gains/Losses from the Disposition of Certain Property
7360 Other Nonoperating lncome
7370 SpecialCharges7300 Nonoperating lncome and E<pense
7410 Nonoperating lnvestment Tax Credits-Net
7420 Nonoperating Federal lncome Taxes
7430 Nonoperating State and Local lncome Taxes
7440 Nonoperating Other Taxes
7450 Provision for Deferred Nonoperating lncome Taxes-Net7400 Nonoperating Taxes
751 0 lnterest on Funded Debt
7520 lnterest Expense-Capital Leases
7530 Amortization of Debt lssuance Expense
7540 Other lnterest Deductions7500 lnterest and Related ltems
7610 Extaordinary lncome Gredits
7620 Extraordinary lncome Charges
7630 Current lncome Tax Effect of Exbaordinary ltems-Net
7640 Provision for Deferred lncome Tax Effect of
Extaordinary ltems-Net7600 Extaordinary ltems
7910 lncome Effect of Jurisdictional Ratemaking
Differences-Net
7990 Nonregulated Net lncome
3,535,563 Sarne as
3,262,707 total company
23,903
229 715
(9,078)
40,439
(17s,968)
109,011
4,062
2,416
(24,435)
809,329
(3,595)
787 777
205,313
57 786
70,885
333,984
156 714
4,343
439
62
161,558
78.643
AMOUNT TRANSFERRED TO RETAINED EARNINGS 534,723
Rev 3/02 Page 14
These financial statements have not been subjected to an audit, review or compilation engagement, and no
assurance is provided for them.
!tem
OPERATING REVENUES
Total Gompany Idaho Only
5001
5002
5003
5004
501 0
5040
5050
5060
5069
5081
5082
5083
5084
51 00
5230
5240
5250
5261
5262
5263
5264
5269
s270
5301
5302
Local Network Services Revenues
Basic fuea Revenue
Optional Extended Area Revenue
Cellular Mobile Revenue
Other Mobile Services Revenue
Public Telephone Revenue
Local Private Line Revenue
Customer Premises Revenue
Other Local Exchange Revenue
Other Local Excfiange Settlements
Network Access Services Revenues
End User Revenue (SLC)
Switched Access Revenue (lnterstate)
Special Access Revenue
State Access Revenue (lntastate)
Long Distance Network Services Revenues
Long Distance Message Revenue - All
M iscellianeou s Revenues
Directory Revenue
Rent Revenue
Corporate Operations Revenue
Special Billing furangements Revenue
Customer Operations Revenue
Plant Operations Revenue
Other Incidental Regutated Revenue
Other Revenue Setfl ements
Carrier Billing & Collection Revenue
Uncollectible Revenues
Uncollectible Revenue - Telecommunications
Uncollectible Revenue - Otrer
531 113
56,549
479,667
207,939
1,554,671
340,866
352,624
6,077
4,200
695
total company
Sarne as
1,161
TOTAL OPERATING REVENUES 3,535,563
Please identiff the following revenues:
NECA USF $_483,996_. To rvhat account were they booked?5069.1
State USF $_138,162_. To vufiat account were they booked?5084.52
Rev 3/02 Page 15
These financial statements have not been subjected to an audit, review or compilation engagement, and no
assurance is provided for them.
Item
OPERATING RET'ENUES
Tota! Company ldaho Only
Plant Specific Operations Expense
6110 Network Support Brpenses
6112 Motor Vehicle Expense
6113 Aircrat Expense
6114 Special Purpose Vehicles Expense
61 15 Garage Work Equipment Expense
6116 Other Work Equipment Expense
6120 General Support Expenses
6121 Land and Building Expenses
6122 Furnifure and Artworks Expense
6123 Office Equipment Expense
6124 General Purpose Computers Expense
621 0 Cental Office Sruitching Expenses
6211 Analog Electonic Expense
62'12 DigStal Electonic Expense
621 5 Electuo-Mechanical Expense
6220 Operators Syrstem Expense
6230 Cental Office Transmission Expenses
6231 Radio Syetems Expense
6232 Circuit Equipment Expense
631 0 lnformation Origination/Termination Expense
6311 Station Apparatus Expense
6341 Large Private Branch Exchange Expense
6351 Public Telephone Terminal Equipment E<pense
6362 Other Terminal Equipment Expense
6410 Cable and Wire Facilities Expenses
6411 Pole Expense
6421 Aerial Cable Expense
6422 Underground Gable Expense
6423 Buried Cable Expense
6424 Submarine Cable Expense
6425 Deep Sea Cable Expense
6426 lntabuilding Network Cable Expense
&t31 Aerial Wire Expense
6441 Conduit Systems Expense
28,586
Sanre as
total company
81,258
2 74
96,995
111,616
24,750
288,030
255,163
TOTAL PL/ANT SPECIFIC OPERATIONS EXPENSE 889.872
Rev 3/02 Page 16
These financial statements have not been subjected to an audit, review or compilation engagement, and no
assurance is provided for them.
Item
OPERATING REVENUES
Total ComPanY ldaho Only
Plant Nonspecific Operations Expense
65 1 0 Other Property/Pla nUEquipment Expenses
6511 Property Held for Future Telecomm. Use Expenses
6512 Provisioning Expense
6530 Network Operations Expense
6531 Power Expense
6532 Network Administration Expense
6533 Testing Expense
6534 Plant Operations Administration Expense
6535 Engineering Expense
6540 Access Expense
6560 Depreciation and Amortization Expenses
6561 Depreciation Expense-Telecom. Plant in Service
6562 Depreciation Expense-Property Held for Future Use
6563 Amortization Expense - Tangible
6564 Amortization Expense - Intangible
6565 Amortization Expense - Other
Total Plant Nonspecific Operations Expenses
Customer Operations Expense
6610 Marketing
661 1 Product Management
6612 Sales
661 3 Product Advertising
6620 Services
6621 Call Completion Services
6622 Number Services
6623 Customer Services
Total Customer Operations Expense
Same as
total company
161 875
1341
93,417
956.887
169,166
't,382,479
3,115
12,672
205,865
221 652
Corporate Operations Expense
6710 Executive and Planning
6711 Executive
6712 Planning
6720 General and Administrative
6721 Accounting and Finance
6722 Erternal Relations
6723 Human Resources
67 24 lnl ormatio n Management
6725 Legal
6726 Procurement
6727 Research and Development
6728 Other General and Administrative
6790 Provision for Uncollectible Notes Receivable
Total Gorporate Operations Expense
400,277
26,127
3,049
139,251
768,744
TOTAL OPERATI NG EXPENSES 3,262,747
Rev 3/02 Page 17
These financial statements have not been subjected to an audit, review or compilation engagement, and no assurance is
provided for them.
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ANNUAL REPORT FOR SMALL TELEPHONE COMPANIES
YEAR ENDED DECEMBER 31,20{6.
CUSTOMER RELATIONS RULES COMPLIANCE
Rule IDAPA 31 .21 .01.603
Rule IDAPA 31 .41 .01.1 05
Please provide copies of:
Summarv of Customer Relations Rules for Telephone Comorations
ldaho Teleohone Solicitation Act Notification
Method of Notification:
Mailed separately to customers Yes-X- No_
lncluded in directory Yes_ No-X-
Date of notification 111111A
Alternate method of notification N/A
Rule IDAPA 31 .41 .01 .403.02
Record of Complaints:
Number received by Company
Category of complainb (if known):
Deposit Disputes
Charges on Bill
Denial/Termination
Quality or Availability
of Service
Carrier Selection/Assignment
Miscellaneous
Rev 3/02
4
2
Page 20
These financial statements have not been subjected to an audit, review or compilation engagement, and no
assurance is provided for them.
CERTIFICATE
State of ldaho
County of Washington
WE, the undersigned RICHARDWIGGINS
ofthe CAMBRIDGE TELEPHONE tilrty,
on our oath do severally say that the foregoing refum has been prepared under our direction, from
the original books, papers, and records of said utility that we have carefully examined same, and
declare the same to be a conect statement of the business afiairs of said utility forthe period
covered by the retum in respect to each and every mater and thing therein set forth, to the best of
our knowledge, information and belief.
Subscribed and Swom to Before Me this I 3 day of ADiil , (Year) 2017
d*t-
My Commission expires e-e , (Year) e O 77 .
Rev 3/02
gdUexcelinelson/anulrpts,/teh nnualrpt
Page2l
ss
DA}IALYNNE MUNDEN
Notary Public
stfb of ldaho
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